Aibidia receives $28 million in Series B funding to expand AI-powered tax technology to the U.S. market
Finnish fintech innovator Aibidia has successfully raised $28 million in Series B funding, positioning itself as an expansion of its AI-powered tax technology platform for multinational corporations across the United States. The round led by Activans, the participation of existing investors DN Capital, FPV and Icebreaker.vc marks a critical moment in the company’s journey to achieve advanced tax compliance and transfer pricing solutions to global businesses facing increasing regulatory challenges.
Since its inception in 2018, Aibidia has become a key part of the tax technology ecosystem of large companies. Its platform that automates and optimizes global transfer pricing and tax compliance processes, is already helping multinational giants such as Unilever, Nokia, Dyson and Delivery Heroes drive the complexity of international tax laws. By simplifying tax-related workflows and ensuring compliance with complex and evolving global tax regulations, Aibidia allows businesses to mitigate risks and save valuable time.
Solve complex transfer pricing challenges with AI
Transfer pricing is the practice of setting transaction prices between subsidiaries of multinational corporations, a critical but often complex process. As global trade develops, tax regulations such as the OECD’s BEPS 2.0 framework and appropriate EU initiatives are tightening, thus increasing scrutiny from global regulators. AIBIDIA’s AI-driven platform addresses these complexities through automated computing, risk assessment and scenario modeling to help companies stay compliant and avoid expensive mistakes.
The platform centralizes and integrates tax data with third-party data to create a “real single source” for the company. This enables teams across departments and geography to collaborate more effectively, eliminate silos and ensure that accurate, up-to-date information is accessible to all stakeholders. AIBIDIA’s AI-driven insights can not only help companies comply with existing regulations, but also prepare for future tax landscape changes.
Aibidia continues to expand its presence in the United States
The latest round of funding comes as Aibidia strategically expands its footprint in the United States, a key growth market. Since 15% of its revenue already comes from U.S. customers, the company’s commitment to serving the U.S. market is reflected in the recent opening of a Manhattan office. The extension is supported by growing demand for Aibidia tax solutions from U.S. multinational corporations, including S&P 500 companies such as EPAM Systems, Aptiv and Omnicom.
“MNCs are facing an increasingly complex network of tax regulations,” explain Hannu-TapaniLeppänenCEO of Aibidia. “Our platform can help them operate global supply chains more effectively. This funding will allow us to bring our technology to the U.S. where demand is growing.”
The investment will allow Aibidia to enhance its product offerings and accelerate its market penetration in the U.S., where its innovative use of AI to address transfer pricing and compliance challenges has attracted attention.
AI and Machine Learning Core
At the heart of Aibidia’s success is its innovative use of artificial intelligence and machine learning. By leveraging advanced algorithms, AIBIDIA’s platform automates complex manual tasks that are often time-consuming and error-prone. For example, its AI-driven solution computes transfer pricing adjustments and performs risk assessments based on real-time data, ensuring accuracy and reducing reliance on external consultants.
The company’s machine learning capabilities have also expanded to predictive analytics, which the platform predicts potential tax risks based on historical data and upcoming regulatory changes. This aggressive approach to risk management is crucial for multinationals to involve waters of global tax compliance turbulence.
In addition, Aibidia’s platform combines AI-driven solution modeling, allowing companies to test different pricing structures and tax strategies before implementation. This allows smarter decision-making to help companies align their global tax strategies with business goals.
Global expansion is coming soon
With a strong track record of success in Europe, Aibidia can now scale its solutions well around the world. The company serves more than 100 multinational clients, focusing on large enterprises, with revenues of approximately 7 billion euros. As AIBIDIA’s U.S. market share continues to grow, the company’s goal is to expand to new international markets, providing a solution for transfer pricing that can be both scalable and adapted to specific needs in different regions.
The latest investment rounds validate AIBIDIA’s innovative approach to address complex tax challenges and further consolidate its position as a leading player in AI-driven fintech. With a deep understanding of technology and transfer pricing complexity, Abidia team is expected to continue to revolutionize how multinationals comply with global tax compliance.
What’s next for Aibidia?
As Aibidia continues to innovate and expand, the company plans to launch additional features and products to support the evolving needs of its customers. These include enhanced integration with leading ERP systems, further tax reporting, and improved data transparency and accessibility.
For businesses dealing with complex transfer pricing issues, Aibidia’s AI-Driend-driven platform has proven to be a valuable tool that not only contributes to compliance but also unlocks new efficiency and cost savings. As global tax laws continue to evolve, Aibidia’s platform will remain at the forefront of the industry and help businesses stay ahead of the curve.
The global tax technology market is expected to grow from $18.53 billion in 2024 to $36.72 billion in 2030, driven by growing tax regulations and the demand for automated solutions. This latest funding round, coupled with Aibidia’s growing business in the United States and beyond, is a bright future for the company as it continues to redefine how companies manage their global tax operations in this rapidly expanding market.
